ART MARKET

REMBRANDT'S SAINT JAMES THE APOSTLE SELLS FOR $25.8 MILLION AT
SOTHEBY'S

Staff Report

NEW YORK, 25 JANUARY 2007—A rare late work by Rembrandt van Rijn was the highlight of the
sale of Old Master Paintings at Sotheby's in New York today. Saint James the
Greater, signed and dated 1661, was from a group of single
figure, half-length "portraits" of religious figures executed by the
artist in the late 1650s and early 1660s. It had an estimate of $18/25
million. The painting sold at auction for $25.8 million. The work,
which depicts the disciple in profile, turned slightly to the right, was formerly in
the renowned collection of benefactor Stephen Carlton Clark, grandson of
the founder of the Singer Sewing Machine Company and brother of Sterling
Clark, founder of The Clark Art Institute in Williamstown, Massachusetts.

The painting was purchased by an anonymous telephone bidder, Sotheby's
said. The price includes the buyer's premium. The Shippy Foundation, a
not-for-profit foundation had tried to sell the painting last year at the
Dutch art-fair TEFAF
Maastricht for around $50 million. Represented by the New York gallery
Salander-O'Reilly, the Rembrandt portrait failed to sell.